In March 2021, the IASB published the exposure draft 'Disclosure Requirements in IFRS Standards — A Pilot Approach (Proposed amendments to IFRS 13 and IAS 19)' that contains proposed guidance for itself when developing and drafting disclosure requirements in IFRSs in future as well as proposed amendments to IFRS 13 'Fair Value Measurement' and IAS 19 'Employee Benefits' that result from applying the proposed guidance to those standards.

There will be three different panel discussions in the webinar. The panellists from EFRAG TEG, EFRAG TEG working groups and observers will provide the views of users, preparers, auditors, enforcers and for IAS 19, an actuary, on the topic. The panellists, EFRAG and the IASB will also respond to questions from the audience.

Views will be sought on the following:

General approach:

• Would (detailed) disclosure objectives enable you to apply more effective judgement and provide more useful information to users?
• What implementation and application issues arise from applying judgement to meet the needs of users?
• Can a pure objective-based approach work or are minimum disclosure requirements necessary?
• Is relevant, company-specific information more important than companies providing comparable information?
• Would the proposals be auditable and enforceable?
• Would the proposed approach be costly to implement?

Proposed changes to IAS 19:

• How important is information about the cash flow effects of defined benefit plans?
• Is a sensitivity analysis for defined benefit obligations necessary? 
• Should specific disclosure objectives only exist for defined benefit obligations or for other types of employee benefits (e.g., hybrid plans) as well?

Proposed changes to IFRS 13:

• Is information about material fair value measurements important, irrespective of the level of the fair value hierarchy they are in?
• Is the proposal to provide alternative fair values preferable compared to the sensitivity of the significant unobservable inputs for level 3 instruments?
• Which information should be provided to explain the significant reasons for changes in the fair value measurements?  

Further details and information on how to register for the event are available on the EFRAG website.

A recording of the joint outreach event is also available on the EFRAG website.